Marico buys 60% stake in protein brand Cosmix

Mumbai: Marico has snapped up a 60% majority stake in D2C wellness brand Cosmix for Rs 226 crore, ramping up acquisitions of new-age startups as consumers seek better choices and varied options catering to specific needs, increasingly shunning run-of-the-mill products. Cosmix sells a range of plant-based protein powders and functional superfood blends. The development comes days after the company bought popcorn brand 4700BC from PVR-Inox. In an exchange filing on Wednesday, Marico said that the company has the right to acquire the remaining stake in Cosmix after FY29. The deal values the startup at about Rs 375 crore.

Founded in 2019 by husband-wife duo Vibha Harish and Soorya Jagadish, Cosmix is profitable and has recently forayed into categories such as plant-protein pancake mixes and bars. Post-pandemic, consumers have become mindful of what they consume and have been opting for healthier options. “The investment in Cosmix brings another strong and differentiated brand into our digital-first portfolio. We foresee immense potential in the wellness and plant-based nutrition space,” said Saugata Gupta, MD & CEO at Marico, adding that Cosmix will expand into other adjacent wellness categories going ahead.